An individual's demand for physician office visits in a given year is given by, Q = 15 - 0.07P, where Q is the number of

[answerhappygod]

An individual's demand for physician office visits in a given
year is given by, Q = 15 - 0.07P, where Q is the number of office
visits and P is the out-of-pocket price paid by the individual for
each visit. Assume the market price of an office visit is $170.
a. Without insurance, how many office visits would the
individual make in one year?
b. Suppose the individual does have insurance and pays only a
$40 copayment for each visit.
How many office visits will the individual make in one year?
c. What is the moral hazard and deadweight loss (DWL) associated
with this individual having insurance?
d. Enter a formula to calculate the proportion of total
expenditure on office visits (for this individual with insurance)
that is deadweight loss.